Are There Any Price Manipulation Patterns In Qatar 2022 Token?

[TokFlow]

Hi guys, it’s Alex again!

In the previous article, we shed light on the roles and position of the actual leading players when trading QATAR 2022 TOKEN (FWC) and it turns out that after Market Makers had dumped a great deal of FWC into the market, this project is now mostly based on the community to develop. Perhaps, there will be a price adjustment for FWC to hit new heights in the near future concerning the 2022 FIFA World Cup looming. Today, let’s dig deep into another significant indicator to learn more about the trading volume of QATAR 2022 TOKEN.



This is the interface of the TokFlow Volume Tracking dashboard. The Chart Volume above illustrates the detailed volume of Qatar 2022 Token including the total volume, real volume and fake volume by weeks. It is noticeable that on 23 September 2022, the total trading volume of FWC skyrocketed to more than 60 quadrillion (equivalent to over $8M), which is 12 times more than last week. It’s also important to note that during this time, the fake volume of FWC outnumbered the real volume.

After hitting the peak in just a few days, the total volume of transactions of FWC dropped sharply to only 2 quadrillion (equivalent to $250K) with the real volume and fake volume following the parallel trend. In light of these metrics, we can come to a conclusion that a great number of bots have been actively involved in FWC. The substantial fake volume along with enormous growth in a short time frame indicate that this is a pump-and-dump token with the interference of Market Makers.

Now let’s move to the Balance on Exchange chart which shows the volume of Qatar 2022 Token on both CEX and DEX by days:



From this chart, we can see that the volume of FWC on both CEX and DEX has an upward trend. Most Qatar tokens are traded on some reputable centralized exchanges namely Gate.io, Mexc.com, BitMart, and Hotbit. It’s observable that this token is only listed on one decentralized exchange - PancakeSwap. With moderate but steady increase, it’s proved that there is a relatively good trading volume for Qatar 2022 Token on DEX as well as a demand for this token.

In comparison with CEX, we can see that BitMart is a remarkable exchange owning the most tokens with Wallet 2 receiving a huge amount of FWC. However, I noticed a sudden gain in the volume of FWC on CEX in a short period from 9 to 18 October when it increased from 0.55% to 0.85%. This reveals a high probability of FWC being dumped on a massive scale as well as traces of price manipulation from MM.



Taking a look at the Long-term and Short-term Holder chart, it is apparent that the amount of Qatar 2022 tokens held by Long-term holders is relatively considerable, accounting for about 14% while the amount of tokens belonging to the Short-term group only makes up 0,1% of the total supply. However, on 30 October 2022, the token balance of both witnessed such a rapid fall as it came back to zero, which means that the FWC army had dumped all of the tokens they held for a long time into the market without leaving anything in their wallets and showed no sign of accumulating more at the moment. This can be a negative indication for Qatar 2022 Token due to the fact that both long-term and short-term holders see no potential in this Fan Token.

After all, Qatar 2022 Token is a token created for Qatar football lovers as a way for fans to support the club. It's pretty much the same as a meme coin in the market which mostly relies on the news related to the improvement of the token use case. Considering its minimal utility, the potential price growth is not high since it depends on the popularity of the club and the use of the token itself in the future. As I’ve analyzed and tracked its volume of transactions, this Fan Token shows some signs of a pump-and-dump scheme. So if you’re planning to invest in any type of Fan Token, it’s of utmost importance to do your own research into the roadmap and utility of that token as well as tracking the on-chain data to identify the real and fake volume, thereby making informed decisions. This is when TokFlow AI comes in to give you an edge.

That’s the end of Alex’s on-chain analysis of Qatar 2022 Token. Let me know what you think in the comments section!